Gold futures rebound amid global cues

Posted By: Religare
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Gold futures rebound amid global cues
Gold futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking firm global cues as the minutes released from the US Federal Reserve's latest meet tempered fears over the timing of a rise in interest rates in the world's biggest economy, boosting the appeal of the yellow metal as a store of value.

A pickup in physical demand for the bullion also supported the precious metal. Gold futures for June 2014 contract, at MCX, is trading at Rs. 28,333 per 10 grams, up by 0.70 per cent, after opening at Rs. 28,348, against the previous closing price of Rs 28,135. It touched an intra-day high of Rs 28,355. (At 10:41 AM).

Dion Global Solutions Ltd.

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